Charleston does not have enough houses to meet the growing demands from potential buyers.

“We don’t have enough homes to satisfy the number of buyers we have,” Jan Eads, owner and broker of Real Estate Unlimited in Charleston.

She said the number of those people wanting to buy homes in Charleston is greater than those wishing to sell their homes.

Eads said this is because many of those people who would normally be looking to move out of their current domiciles and upgrade to better housing are afraid to do so. She said many potential sellers are afraid to move out of their current homes because they are concerned they will not find suitable housing once they move out.

While this housing shortage might have been partially caused by people wishing to hold onto what they have without the risk of venturing into what may seem like an unsure housing market, Eads said the shortage may also have been caused by the lack of industrial shutdowns in recent years.

She said since much of the industrial market that once existed in Charleston evaporated years ago, there have not been as many homes on the market.

Eads said when an industry leaves, many of its workers go with it, as they did many years ago.

However, there has been no recent major job loss in Charleston so many homes that might have gone on the market otherwise have not been put up.

While this may cause a problem for some buyers looking for homes, Eads said the economy of Coles County is strong as are interest rates on loans. These attributes are caused by the strong economy in Charleston.

She believes this strong economy was based on the fact that the local economy is based on stable local businesses rather national businesses, which are not quite as stable.

Linda Nugent, owner and broker of Linda Nugent Realtors, said interest rates in the area are some of the greatest the local housing market has seen in many years.

“Our market is really active,” she said. “Our market is fabulous.”

Nugent, who got into the realty business in 1981, said interest rates 27 years ago were as high has as 16 percent where they are now between 5 and 6 percent.

She said these interest rates and the housing market have allowed potential buyers the ability to afford three times that which they would have been able to afford previously.

Though she said there was a slow period late last year, Nugent said they saw a real resurgence in the market in January.

Nugent said her firm has been inundated with potential buyers this spring, though she said this is normally the time when the market is busiest.

“This is the time when homes are sold,” she said.

Neither Nugent nor Eads could say for certain whether the Coles County housing market will weather the crisis currently facing the United States, though they are optimistic that it will hold together.

Nugent, who describes herself as an optimistic realist, said in her time as a realtor in Coles County she has yet to see a down market in the area.

“It’s hard to foresee what the future will bring,” she said.

Jordan Crook can be reached at 581-7945 or at jscrook@eiu.edu.